PROCTER & GAMBLE Co — Director's Dealing 2004

Mar 2, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PROCTER & GAMBLE CO (PG)
CIK: 0000080424
Period of Report: 2004-02-27

Reporting Person: MARTIN MARIANO (Global Cust. Bus. Dev. Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-02-27	Stock Option (right to buy)	$102.83	A	17019.0000	Acquired	2014-02-27	Common Stock (17019.0000)	Direct
2004-02-27	Stock Option (right to buy)	$102.83	A	8510.0000	Acquired	2014-02-27	Common Stock (8510.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1140.0780	Direct
Common Stock	34.0000	Indirect
Common Stock	34.0000	Indirect
Common Stock	848.0307	Indirect
Common Stock	34.0000	Indirect
Common Stock	34.0000	Indirect
Common Stock	34.0000	Indirect
Common Stock	1000.0000	Indirect

Footnotes

F1: Mariano Martin and Leticia Martin Chocano joint tenants wth right of survivorship.

F2: Mariano Martin custodian for Sandra Martin Chocano under the Uniform Gift to Minors Act (UGMA).

F3: Mariano Martin custodian for Ignacio Martin Chocano (UGMA).

F4: Mariano Martin custodian for Jaime Martin Chocano (UGMA).

F5: Mariano Martin custodian for Javier Martin Chocano (UGMA).

F6: The Mariano Martin Revocable Living Trust.

F7: Employee stock option granted under Issuer's 2001 Stock Plan.